NOTE: §566 eff. until July 1, 2021. See Acts 2018, No. 569.
§566. Registration as to principal only
Bonds issued hereunder may be either registered or coupon bonds. Coupon bonds may be registered as to principal in the holder's name on the books of the financial officer of the subdivision, the registration being noted upon the bonds by the financial officer, after which no transfer shall be valid unless made on the financial officer's books by the registered holder, and similarly noted on the bonds. Bonds registered as to principal may be discharged from registration by being transferred to bearer, after which they shall be transferable by delivery, but may be again registered as to principal as before. The registration of the bonds as to principal shall not restrain the negotiability of the coupons by delivery merely.
NOTE: §566 as repealed by Acts 2018, No. 569, eff. July 1, 2021.
§566. Repealed by Acts 2018, No. 569, §2, eff. July 1, 2021.
Acts 2018, No. 569, §2, eff. July 1, 2021.
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